EUR/USD analysis of the week (4h candlesticks)

By IBT Staff Reporter On 03/18/10 AT 8:14 AM

The parity EUR/USD didn't succeed to break the resistance at 1.38. The price is currently making a second pullback on the upper band of the triangle. As far as the price is between 1.3650 and 1.37, we stay neutral. A return above 1.37 will offer a buy signal. We will then advise to trade only long positions as far as the price is above 1.3650. However, a break out of 1.3650 will offer a sell signal. We will then advise to trade only short positions as far as 1.37 is resistance.